Market Overview: Gnosis/Tether (GNOUSDT) Daily Price Action and Momentum

Summary
• Price tested key resistance at $131.00 before consolidating near $131.71.
• Volume surged during the final 3 hours, indicating potential accumulation.
• RSI hit overbought levels, suggesting short-term profit-taking could be near.

Gnosis/Tether (GNOUSDT) opened at $130.46 on 2026-01-01 12:00 ET, peaked at $135.52, and closed at $135.12 by 2026-01-02 12:00 ET, with a low of $129.85. Total volume was 1,108.31 GNO, and notional turnover amounted to $146,622.19.

Structure & Formations

The price showed a bullish breakout above $131.00, forming a series of higher highs and higher lows on the 5-minute chart. Key support levels at $130.70 and $130.20 were clearly defined, with price bouncing off these areas multiple times. A strong 5-minute bullish engulfing pattern appeared at $130.60–$130.83, signaling a short-term reversal.

Moving Averages and Momentum

The 5-minute 20SMA and 50SMA crossed above $130.40 and $130.60, supporting the upward bias. On the daily chart, the price closed above the 50DMA, suggesting continued optimism. The 12/26 MACD remained positive with a recent upward cross, aligning with bullish momentum. RSI peaked near 75, indicating overbought conditions and hinting at possible profit-taking.

Volatility and Bollinger Bands

Volatility expanded during the last 6 hours of trading, with the price staying close to the upper Bollinger Band. This suggests a strong conviction phase. Earlier in the session, the price remained compressed within a narrow range between the bands, indicating a period of consolidation before the breakout.

Volume and Turnover

Volume surged significantly between 04:00–07:00 ET, with a sharp increase in notional turnover coinciding with the $132–$134 price range. This suggests active accumulation by institutional or large-cap players. The volume profile also showed divergence in the last hour—high volume but limited price movement—possibly signaling a pause in the upward thrust.

Fibonacci Retracements

On the 5-minute chart, a key 61.8% retracement level was found near $131.50, aligning with the 5-minute 20SMA. On the daily chart, the price closed near the 38.2% retracement of the previous major bearish leg, reinforcing the bullish structure.

The price appears to be entering a period of consolidation following a strong upward move. Traders may watch for a test of the $135.50–$136.00 level in the next 24 hours. However, a pullback to test $133.00 could occur if momentum slows. Investors should remain cautious of potential profit-taking and divergence in volume and price.